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Bankruptcy News

The Latest Bankruptcy & Debt Relief News by Brian Barta
Bankruptcy Attorney Brian Barta > Bankruptcy News (Page 3)

Inherited IRA Retirement Account Could Be Exempt From Bankruptcy

Many people fear losing everything they own if they pursue bankruptcy, but that is not the case. As just one example, federal law generally provides for the exemption of retirement funds from bankruptcy proceedings, if the funds meet the applicable requirements under the law. This exemption may apply even if those retirement funds were inherited from a parent, as demonstrated when the United States Bankruptcy Court discussed the issue in the Chapter 7 bankruptcy case of In re Trawick. A retirement account ...

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When a Cheap Bankruptcy Attorney Isn’t Really Cheap

Perils of a cheap bankruptcy

How much does a bankruptcy cost? Well, when it comes to hiring a bankruptcy attorney, hiring the lawyer that charges the lowest fee often turns out to be an expensive and sometimes tragic mistake. Most competent and experienced bankruptcy lawyers in Sonoma County, California, charge the same fee for a given case; the fee quote may be slightly higher or lower, but good attorneys know how much time and energy a particular case will take and charge accordingly. Why do some bankruptcy attorneys in Sonoma County charge so much less than others? If you see an attorney advertising that she will do bankruptcies...

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Is Bankruptcy Really A Fresh Start?

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In my 24 years of helping clients in Santa Rosa, California, and throughout Sonoma County, get a fresh financial start I have been reassuring clients, and telling them what a new study by the Federal Reserve Bank of New York has now concluded; people who file bankruptcy do better financially in the long run, than those who don't. Today the biggest financial calamity looming ahead of 50% of people is not their immediate debt, but the inability to save for even a modest retirement.  Money spent on monthly payments for credit card debt, personal loans and revolving debt pays the interest...

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California Senate Bill SB-308 Increases Bankruptcy Exemptions

bankruptcy laws

Bankruptcy Exemptions For Your Home On May 22, 2015 the California Senate passed a great new bill that would help Californians who file for bankruptcy protect more property, specifically equity in their homes and vehicles.  Currently, a person filing bankruptcy can protect anywhere from $100,000 up to $175,000 equity in their residence, depending on their age, marital status, and the number of people in the household.  SB 308 is a bill that was strongly supported by consumer groups and advocates that substantially increased the amount of home equity that can be protected to an across-the-board $300,000 for all debtors.  That means...

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Can You Get Rid Of Student Loans In Bankruptcy?

Student loan debt

Can you get rid of student loan debt in bankruptcy?  This is a common question asked of bankruptcy attorneys for the simple reason that Americans owe an estimated two trillion dollars in loans incurred for schooling.  If you are one of those people who went to college and ended up owing $10,000, $20,000, $30,000 or even more to Sallie Mae or another student loan lender, you know how difficult it can be to survive financially.  Paying back student loans can be nearly impossible especially when career jobs are difficult to find, the degree you earned may not be in demand,...

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